A complete risk-based audit automation solution delivers performance and agility.
- Thousands of hours of auditors’ time saved each year
- Increased accuracy of audit reports and management information
- The audit process is easier to control and manage
- Stronger management of SOX compliance
- Improved quality control: “priceless”
- Rapid implementation and deployment delivers rapid benefits realisation
Pentana Audit is an enterprise software product that leverages Ideagen’s compliance and risk management portfolio, expertise and technology base to propagate a “three lines of defence” culture in your organisation. Extensive automation as well as mobile and flexible working capabilities transform the audit business processes, propagating best practice and delivering productivity improvements and cashable savings.
— Stephanie Jones, Product Manager
Pentana Audit offers a complete solution for risk-based auditing and includes rich features for the following activities:
Audit Planning, Scoping and Scheduling
Defining the audit universe and developing the audit strategy, schedule and documentation.
Time and Expense Management
Scheduling, tracking and reporting time taken to complete audit projects and tracking relative expenses.
Risk and Control Management
Aimed at supporting audit planning and project planning as well as being the system of record for risk.
Audit Work Paper Management
Documenting goals, tests, criteria, samples, observations and evidence associated with individual control tests.
Audit Evidence Management
Linking fieldwork, controls and risks to evidence collected.
Internal and External Reporting
Consolidating and presenting audit findings and observations, including the criticality and risk assessment of each finding.
Business Intelligence and Management Information
Including continuous monitoring of controls.
Issue Tracking and Action Management
Automated follow-up for findings, including ownership, tasking, deadlines and closure criteria.
Pentana Audit generates a "three lines of defence" environment that drives compliance and delivers real time insights into the organisation’s risk profile and the status of management and financial controls.
Pentana Audit is flexible, customisable and user-friendly. For this reason I would recommend it to my peers.
— Caroline Griffiths, Senior Manager at Global Audit Corporate & Professional Practice, Heineken
For more than two decades, Pentana Audit has delivered agility and productivity to internal auditors in many industries the world over:
- Automation and consistency
- Productivity and control
- Prevention of problems
- Improved data, management information and business intelligence
Pentana Audit can be installed on premise or delivered as a hosted service
Features and Capabilities
- Integrated, ready to use risk and control framework
- Easy reporting on historical audits to inform future work
- Define your own terminology
- Increased visibility of audit progress, risk levels and control coverage
- Quality driven throughout the audit process and audit team
- Comprehensive control management
- Supports the implementation of a consistent auditing methodology
- Reduced wastage and duplication of effort
- Central library for Risks, Controls and Tests
- Vastly reduce administration overheads of audit manager
- Complete audit management from planning and execution through to reporting
Whether managing a small department or global consultancy firm, making correct planning decisions and efficient utilisation of staff is critical to the success of any business function.
- A highly flexible, visual resource scheduling system to drive efficiencies and maximise revenue
- Define and organisation structure with any number of levels
- This flexible structure enables the easy analysis and summarisation of risk assessments to show which audits or reviews would give the optimum risk coverage
- Link auditable entities with an number of processes
- Create quick reports in various popular formats
- Audit Reports and complex Audit Committee reports can be produced using Word or Excel
Anticipate and Prevent Problems and Failures
At the heart of Pentana Audit is the definition of the audit or risk universe
Eliminate reliance on a small number of experts
Reduce legal and regulatory risks and eliminate problems and failures before they take hold
Staff are guided through a complete risk and control testing methodology with libraries of content covering common risk areas. Processes, risks, controls and tests are automatically cross referenced and work can be documented either in rich text fields within the database or in attachments with hyperlinks to documented issues. Multi-item selection enables fast re-assignment of work, or completion of similar tests.
Pentana Audit has the tools you need to define and continuously monitor a comprehensive system of internal controls to meet the requirements of Sarbanes-Oxley and covers both SOX 404 for management assessment of internal controls and SOX 302 for disclosure of all material information in financial reports.
Enterprise Risk Management
Pentana Audit offers a risk register and features for risk assessment, modelling and documentation, mitigation and action planning, analysis, reporting and continuous monitoring. Many customers use Pentana Audit as the system of record to deliver an enterprise risk management strategy in line with guidance from COSO, the Basel Committee on Banking Supervision, ISO 31000 and the IIA. ERM creates a holistic strategy for risk and establishes a strong governance model to deliver resilience, compliance and the strategic goals of the business.
Pentana Disclose consists of the Pentana Disclose UK package and the Pentana Disclose International package.
Pentana Disclose International includes requirements for accounting under both full IFRS and EU adopted IFRS.
Pentana Disclose UK includes checklists relating to IFRS for UK companies, old UK GAAP and FRS 102. These include all the relevant legislation requirements. The UK GAAP checklists (both for old and new UK GAAP) currently also incorporate the requirements for companies, LLP’s, academy trusts, charities, further and higher education establishments and housing associations.